22 Aug 2013

Fund plans to invest in start-up NZ tech companies

7:31 pm on 22 August 2013

A new fund is looking to raise up to $50 million which it intends to invest in start-up New Zealand tech companies.

The Punakaiki Fund is being managed by Lance Wiggs Capital Management, the director of which is Lance Wiggs, who was an advisor on the original sell-off of Trade Me to Fairfax.

The private company has registered its offer document and wants the public to put in a minimum of $2000 into the fund, it's not going to list on the NZX yet though, but investors will be able to trade shares through another facility.

Lance Wiggs says the fund means the public can invest in early-stage companies which is something usually only open to high net-worth individuals.